Los Angeles Tourism Marketing District Corporation
- Assets
- $35.9m
- Revenue
- $39.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Los Angeles, CA
- Founding
- 10/2011
- Data as of
- 12/2023
- EIN
- 45-3080034
Organization Overview
Los Angeles Tourism Marketing District Corporation is located in Los Angeles, CA. The organization was established in 2011. According to its NTEE Classification (S21) the organization is classified as: Community Coalitions, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Los Angeles Tourism Marketing District Corporation is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, Los Angeles Tourism Marketing District Corporation generated $39.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.9% each year. All expenses for the organization totaled $27.2m during the year ending 12/2023. While expenses have increased by 0.8% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THROUGH THE DEVELOPMENT AND OPERATION OF A TOURISM MARKETING DISTRICT (TMD), IMPLEMENT SALES & MARKETING PROMO- TIONS TO INCREASE TOURISM TO LOS ANGELES AND ROOM NIGHTS TO TMD HOTELS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SALES PROGRAMS ARE DESIGNED FOR THE BENEFIT OF LODGING BUSINESSES WITH FIFTY OR MORE ROOMS IN THE CITY OF LOS ANGELES. THESE PROGRAMS INCLUDE: DEVELOPMENT OF NEW BUSINESS FOR SELF-CONTAINED HOTEL MEETINGS AND CITY-WIDE CONVENTIONS, PRE AND POST MEETING SUPPORT TO SELF-CONTAINED GROUPS, STAFFING FOR GROUP MEETINGS AND CONVENTIONS, AND SALES AND SERVICES STAFF DEPLOYMENT TO SELL THE CITY OF LOS ANGELES.
THE MARKETING PROGRAMS ARE DESIGNED TO INCREASE OCCUPANCY LEVELS AT LODGING BUSINESSES WITH FIFTY OR MORE ROOMS IN THE CITY OF LOS ANGELES. THESE PROGRAMS INCLUDE: CONSUMER AND TRADE ADVERTISING, REGIONAL MARKETING, GLOBAL BRANDING CAMPAIGNS, INCREASED MEDIA EXPOSURE, AND PROMOTIONAL PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Javier Cano Chairman | OfficerTrustee | 1 | $0 |
Grant Coonley Secretary Outgoing June 2023 | OfficerTrustee | 0.25 | $0 |
Scott Mills Secretary | OfficerTrustee | 0.25 | $0 |
Carl Schuster Treasurer | OfficerTrustee | 0.5 | $0 |
Mark Beccarria Incoming Director 10/1/2023 | Trustee | 0.25 | $0 |
Mark Eberwein Incoming Director 10/1/2023 | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $39,437,770 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $39,437,770 |
| Total Program Service Revenue | $98,076 |
| Investment income | $205,365 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $39,741,211 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $500,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $7,900,363 |
| Fees for services: Legal | $42,804 |
| Fees for services: Accounting | $154,580 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $247,084 |
| Advertising and promotion | $15,080,698 |
| Office expenses | $766,275 |
| Information technology | $345,623 |
| Royalties | $0 |
| Occupancy | $693,262 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $48,788 |
| All other expenses | $0 |
| Total functional expenses | $27,207,074 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $23,797,975 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,156,100 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,945,875 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $35,899,950 |
| Accounts payable and accrued expenses | $2,692,592 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,692,592 |
| Net assets without donor restrictions | $33,207,358 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $35,899,950 |